SENIOR ADVISOR (ACTUARIAL) – JOB SPECIFICATION (Regulatory Standards &

Codes Committee)

About the FRC

The Financial Reporting Council (FRC)’s mission is to serve the public interest by setting high
standards of corporate governance, reporting and audit and holding to account those
responsible for delivering them. The FRC is the UK Competent Authority for audit. We set the
UK Corporate Governance and Stewardship Codes as well as UK standards for accounting,
auditing and actuarial work, and influence the development of international standards. We also
monitor and take action to promote the quality of corporate reporting and operate independent
enforcement arrangements for accountants and actuaries. Further information about our role
can be found at www.frc.org.uk.

The FRC has adopted a governance structure designed to maximise its effectiveness and
responsiveness, through an ‘Executive Led’ approach. The Board is supported in its oversight
of work and decision-making by the three Board Committees: Regulatory Standards and
Codes, Conduct and Supervision. In addition, the Executive and the Board Committees are
assisted by Senior Advisors, who participate fully in committee meetings and an Advisory
Panel formed of subject matter experts.

The Role
As a Senior Advisor for the FRC, you will act as a ‘critical friend’ to the FRC’s Executive and
the Regulatory Standards and Codes Committee.

You will be required to prepare for and attend Regulatory Standards and Codes Committee
meetings (on average 8 times a year) as a non-voting, standing member. Senior Advisors will
provide the Committee with technical expertise and advice where requested, but will not be
involved in taking decisions.

The Regulatory Standards & Codes Committee is responsible for advising the FRC Board on
corporate governance matters, including changes to the UK Corporate Governance Code and
Stewardship Code. It makes recommendations to the Board on the issue and maintenance of
auditing, ethical, actuarial and accounting standards in the UK and the FRC taxonomies. It
provides thought-leadership to the Executive on emerging and potential risks to the quality of
corporate governance, stewardship and audit, actuarial and corporate reporting.

As a subject matter expert, you will be called upon to provide support and challenge to the
Executive in the development of the strategy and contribute across the FRC’s broad range of
activities in the setting of standards and guidance. You will be involved from the early stages
of work, helping shape our approach to analysis and providing quality assurance. You will take
on a review role as the work progresses, providing challenge to ensure that the work is
rigorous, well-argued and will achieve the objectives agreed by the FRC Board.

From time to time you may also be called on to take part in other activities to support the
Executive, such as participating in working groups, conducting analysis of key information or
reviewing drafts of FRC publications.

Work requests from the Executive will vary from month to month and Senior Advisors will be
asked to be able to respond to requests from the Executive in a timely manner.

FRC is looking to recruit a Senior Actuarial Advisor for Regulatory Standards with one or more
skills in the areas set out in the candidate requirements below.
 SENIOR ADVISOR (ACTUARIAL) – JOB SPECIFICATION (Regulatory Standards &
Codes Committee)

Candidate requirements
Actuarial
As a senior executive who has deep actuarial experience in the sectors of Pensions and/or
Insurance, you will provide challenge, direction and advice on the development and
maintenance of high quality, effective and proportionate technical actuarial standards and
guidance for actuarial work. In doing so, you will identify current, emerging and potential risks
to the quality of actuarial work and advise on opportunities to promote the quality of actuarial
work. Understanding of the actuarial professional bodies and knowledge of the regulatory
experience (actuarial, insurance or pensions) will be essential.

You will also bring:

• Experience as senior executive with strong financial background
• An understanding of the principles underpinning the Regulators’ Code
• Strong intellectual qualities and sound judgement with ability to analyse and develop
solutions to a range of strategic and technical questions and assess what will work
best for the success of continued growth of the UK economy and confidence in
shareholders, employees, investors and wider public
• Strong ethics closely aligned to the FRC’s Values and Behaviours
• An ability to demonstrate significant credibility in their subject matter area to
stakeholders
• Extensive knowledge and understanding of the associated challenges in relation to
their subject matter area
• Experience in navigating uncertainty and managing competing views

Candidates shall not be:

• Officers of the actuarial and accountancy professional bodies regulated by the FRC
• Practicing auditor or a person who has during the last five years:
- carried out statutory audits;
- held voting rights in an audit firm;
- been a partner or employee, or otherwise contracted by an audit firm;
- been a member of the administrative, management or supervisory body of an
audit firm; or
- been personally contracted to provide services to an audit firm.

Terms and conditions

Senior Advisors will report directly to the Chair of the Regulatory Standards and Codes
Committee, who will carry out regular evaluations of their performance.

Senior Advisors will typically work on average 2 days per month, although exact commitments
will vary slightly from month to month and will receive £570 per day.

Senior Advisors are expected to demonstrate the FRC’s Values and Behaviour and adhere to
the FRC’s Code of Conduct.

Senior Advisors are required to declare their financial and non-financial interests on
appointment and thereafter declare any conflicts of interest with their work at the FRC. In
keeping with the Regulator’s Code principle of transparency, the declared non-financial
interests of the Senior Advisors will be published on the FRC’s website.

The role will be based in London, with Committee meetings taking place at the FRC’s London
office. However, Senior Advisors will be permitted to work from home where practical.
 SENIOR ADVISOR (ACTUARIAL) – JOB SPECIFICATION (Regulatory Standards &
Codes Committee)

How to apply
If you are interested in learning more about the role, or for any queries, please contact the
governance team at recruitmentgl@frc.org.uk

To apply, please submit your CV and covering letter to the above email address explaining
why you are interested in the appointment and how you meet the candidate requirements
detailed above. Should the application proceed to the final stage, candidates will be asked to
provide details of two referees.

The closing date for application is 31 July 2022, shortlisting will take place as an ongoing
process and interviews will be held in August.

Recruitment process
The FRC values and promotes diversity and inclusion and is committed to equality of
opportunity for all. Appointments are made on merit. We believe that the best organisations
are those that reflect the communities they serve. We very much welcome applications from
women, those with disabilities and from people from black, Asian and minority ethnic
communities, who we know are under-represented in non-executive roles.